Shares of AMC Entertainment Holdings Inc. were set to keep soaring Wednesday, and the movie theater operator is looking to engage directly with its “sizable retail shareholder base” with a new communication initiative, offering free popcorn for new members.
shot up 20.3% in premarket trading, putting them on track to open in record territory. On Tuesday, the stock soared 22.7% to close at a four-year high, after rocketing 116.2% last week amid another trading frenzy in meme stocks.
AMC said it was launching AMC Investor Connect, to put the company in direct communication with its “extraordinary base of enthusiastic and passionate individual shareholders,” to keep them up to date about company information and to provide them with special offers.
The move comes as AMC’s retail shareholder base has grown to more than three million over the last several months, and owned more than 80% of the company’s outstanding shares.
“We intend to communicate often with these investors, and from time to time provide them with special benefits at our theatres,” said Chief Executive Adam Aron. “We start with a free large popcorn on us, when they attend their first movie at an AMC theatre this summer.”
To sign up for AMC Investor Connect, investors must enroll as an AMC Stubs member, which includes AMC Stubs Insider, AMC Stubs Premiere and AMC Stubs A-List.
Some other investor benefits through AMC Investor Connect include invitations to special screenings, communications directly from CEO Aron and free or discounted items.
AMC’s stock has skyrocketed 1,411.3% year to date through Tuesday, while shares of fellow movie theater operator Cinemark Holdings Inc.
has advanced 40.2% and the S&P 500 index
has gained 11.9%.